Interactions between tourism and financial sector development: evidence from Turkey

Katırcıoğlu, Salih; Altınay, Mehmet

doi:10.1080/02642069.2017.1406479

Cited by 61 publications

(40 citation statements)

References 45 publications

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“…There are many empirical studies, like Balaguer and Cantavella-Jorda (2002), Narayan and Prasad (2003), Dritsakis (2004), Gunduz and Hatemi-J (2005), Katircioglu (2009a, b, c, 2010, 2011), Hye and Khan (2013), Bouzahzah and El Menyari (2013), Jalil et al (2013), Kilinc et al (2013), Tang and Abosedra (2014a, b), Al-mulali et al (2014b), Tang and Tan (2015), Brida et al (2016), inter alia, investigating this nexus for different countries or country group cases. The second direction in tourism-related literature is the impact of financial development on tourism growth (Katircioglu et al 2018b, inter alia). The above-mentioned two relationships are not the focus of the current study.…”

Section: Literature Reviewmentioning

confidence: 99%

Re-evaluating the environmental impacts of tourism: does EKC exist?

Mikayilov

Mukhtarov

Mammadov

et al. 2019

Environ Sci Pollut Res

109

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The study investigates the long-run impact of tourism development on ecological footprint by employing the time-varying coefficient cointegration approach (TVC), in addition to the conventional cointegration techniques in the case of Azerbaijan for the period of 1996–2014. Based on the TVC estimation results, the coefficient of tourism development, which is the income elasticity of environmental degradation, was found to be time invariant. The paper uses energy consumption, trade, urbanization, and institutional quality indicators as control explanatory variables. The estimation results revealed that trade and energy consumption have statistically significant and positive impact on ecological footprint, while the coefficients of the other explanatory variables were found to be insignificant. Both the conventional estimation methods and the TVC concluded that, for the relationship between ecological footprint and tourism development, the EKC hypothesis is not present in Azerbaijan. Policy implications for the resource-rich economies have been discussed.

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Section: Literature Reviewmentioning

confidence: 99%

Re-evaluating the environmental impacts of tourism: does EKC exist?

Mikayilov

Mukhtarov

Mammadov

et al. 2019

Environ Sci Pollut Res

109

View full text Add to dashboard Cite

show abstract

“…Yang and Shi (2014) supported that there was a continuously hysteretic effect of finance on tourism [15]. Katircioglu and Altinay (2017) found that the development of tourism has a continuously interactive relationship with financial growth in Turkey [16]. Shi (2011) believed that only by forming a reasonable matching relationship between financial development and the growth of the tourism industry can the tourism industry and the economy maintain sustainable growth [17].…”

Section: Introductionmentioning

confidence: 99%

An Evaluation of Coupling Coordination between Tourism and Finance

et al. 2018

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The tourism industry has become a new growth engine that closely coordinates with the financial industry and contributes to the sustainable development of local economies. This study establishes a comprehensive index system and evaluates the coupling coordination based on an integrated approach, and the dynamic relationship between tourism and finance through applying coupling coordination degree modeling, the Granger causality test, and an impulse response function based on the regional coordination theory and system theory. Using data from 2000 to 2016 of three tourism-based cities in China, the findings reveal heterogeneous results among the cities. Specifically, the following: (1) The coupling coordination degree between finance and tourism in Zhangjiajie increased with strong fluctuations. A one-way causality relationship existed between two subsystems, and finance continuously contributed to the growth of tourism with serious lags; (2) The coupling coordination degree between finance and tourism in Huang Shan presented a ladder-type and continuous rise. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism continuously contributed to the development of finance. (3) The coupling coordination degree between finance and tourism in Sanya grew with a frequent, tiny, and fluctuating trend. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism influenced the development of finance with temporary positive or negative effects.

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“…Kumar (2014) concluded that capital stock, TD, FD and technology innovation are the key drivers of EG that leads to productivity led TD. Katircioglu, Katircioğlu, and Altinay (2018) argued that FD leads to increase TD, if and only if, the interaction of financial and trade liberalisation policies support capital market in order to draw the linkages with tourism infrastructure. Shahbaz et al (2017) confirmed the mutual interdependence between the different macroeconomic factors that linked it with TD, including EG, TOP, and FD.…”

Section: Resultsmentioning

confidence: 99%

Structural changes, financial and business regulatory measures, energy and tourism demand: Evidence from group of seven countries

et al. 2020

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The structural change is largely proliferated to adjust the momentous growth in tourism and energy demand, which is regulated by sound financial and business oriented measures in order to sustained economic profit. The objective of the study is to examine the impact of financial factors and business regulatory measures on energy and tourism demand in a group of seven (G‐7) countries, by using a consistent time series data from 1995–2015. The results of panel fixed effect regression confirm that financial and business regulatory measures increase energy and tourism demand. The panel causality results confirmed the unidirectional relationship running from finance to tourism and from energy to business regulatory measures that establish the finance‐led tourism growth and energy‐led business regulation hypothesis, while there is feedback relationship between energy and tourism, and energy and finance, which encourages the implementation of energy expansionary policies for long‐run sustained finance and international tourism across countries.

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Interactions between tourism and financial sector development: evidence from Turkey

Cited by 61 publications

References 45 publications

Re-evaluating the environmental impacts of tourism: does EKC exist?

Re-evaluating the environmental impacts of tourism: does EKC exist?

An Evaluation of Coupling Coordination between Tourism and Finance

Structural changes, financial and business regulatory measures, energy and tourism demand: Evidence from group of seven countries

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